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Journal Entries (Note Issued, Renewed, and Paid) May 1 Purchased $5,000 worth of equipment from a supplier on account. June 1 Issued a $5,000, 30-day, 6% note in payment of the account payable. July 1 Paid $1,500 cash plus interest to the supplier, extending the note for 30 days from July 1. 31 Paid the note in full. Aug. 10 Issued a $3,500, 60-day, 7% note to a supplier for purchase of merchandise. Prepare general journal entries for the transactions. Assume 360 days in a year. Page: 1 DOC. POST DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. 20-- May 1 1 2 2 3 3 4 Jun. 1 10 5 5 6 6 7 Jul. 1 LU. 7 8 8 9 9 8 9 9 10 11 12 Jul. 31 13 14 15 16 Aug. 10 10 17 18